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- Eric Trump said on Oct. 7 at TOKEN2049 in Singapore that traditional banks are now embracing crypto due to expanding customer demand and blockchain services.
- Citi expanded its partnership with Coinbase in September, while Fidelity offers direct crypto trading and Charles Schwab plans spot cryptocurrency trading.
- Trump said artificial intelligence could accelerate digital asset use as autonomous software increasingly relies on crypto infrastructure for payments and automated transactions.
Eric Trump said major banks that spent years resisting crypto are now being pushed toward digital assets as customer demand and blockchain-based financial services expand. Speaking at TOKEN2049 in Singapore on Oct. 7, the World Liberty Financial co-founder argued that the industry had reached a point where traditional financial institutions could no longer ignore crypto.
Trump also said artificial intelligence could become a major driver of further digital asset adoption. He expects AI systems to increasingly rely on crypto infrastructure for payments and automated transactions.
Trump Says Crypto Has “Beaten” the Banks
Trump told the conference that banks are increasingly adopting technology they once resisted. He framed the shift as a victory for the digital asset industry rather than evidence that traditional finance would disappear.
“All of us in here beat the big banks because every single day you see another one embracing cryptocurrency.”
He added that the industry could now “declare victory” after pushing through years of opposition. The comments extend his previous criticism of traditional banks, although major financial institutions are increasingly integrating crypto rather than being replaced by it.
Major Financial Firms Expand Crypto Services
Recent developments provide examples of the adoption Trump referenced. Citi expanded its partnership with Coinbase in September to connect traditional payment infrastructure with stablecoins and enable institutional clients to accept stablecoin payments.
Fidelity already offers direct trading in assets including Bitcoin and Ethereum through Fidelity Crypto. Charles Schwab has also said it plans to launch spot cryptocurrency trading, initially supporting Bitcoin and Ethereum.
Those developments show traditional financial companies adding digital asset products alongside existing banking and investment services. They do not establish that crypto has displaced the broader banking system.
AI Could Drive the Next Phase of Adoption
Trump said artificial intelligence could accelerate digital asset use as autonomous software begins making more financial decisions. World Liberty Financial promotes its AgentPay SDK for agentic payments using USD1, allowing AI applications to hold and transfer funds under programmed controls and human approval.
Trump argued that AI agents will need fast, programmable payment systems as they begin booking services and conducting transactions without direct human involvement. That remains a developing use case rather than an established source of large-scale crypto demand.
Trump Has Direct Crypto Business Interests
Trump is a co-founder of World Liberty Financial, which operates the WLFI ecosystem and the dollar-backed USD1 stablecoin. The project also promotes AgentPay as infrastructure for AI-driven payments using USD1.
His comments therefore come alongside direct business exposure to the adoption of stablecoins and other digital assets. The latest remarks build on his earlier warnings that banks risk becoming obsolete if they fail to adapt, while arguing that their growing participation now shows crypto becoming more integrated with mainstream finance.
